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AEW UK REIT (LSE:AEWU)has reported another quarter of robust performance, underpinned by disciplined asset management, counter-cyclical investing, and a long-standing value-led strategy. In a challenging environment for UK real estate, the company posted earnings of 2.36 pence per share alongside a NAV total return of just over 2%, extending its record of consistent delivery.

Speaking on The Watchlist, Laura Elkin, Portfolio Manager at AEW UK REIT, attributed the outperformance to the REIT’s sector-agnostic, value-focused approach.

“We are stock pickers and asset managers first and foremost,” Elkin said. “Being sector-agnostic allows us to look across the whole UK commercial property market and make counter-cyclical purchases and disposals. That’s how we’ve generated strong returns over the last ten and a half years.”

Asset Management Driving Income Growth

A core pillar of AEW UK REIT’s success has been active asset management. The company had achieved 11 consecutive quarters of valuation uplift and three years of income growth, even as the broader UK real estate market has remained relatively flat.

Much of this performance has been driven by hands-on initiatives such as refurbishments and lease restructuring. With projects like the Queen Square refurbishment underway, AEW UK REIT continues to focus on enhancing income and long-term shareholder value.

Elkin noted that this strategy is paying off:

“The income growth and valuation gains we’re seeing are predominantly coming from our hard work in active asset management. That’s what really excites me about the future performance of the portfolio.”

Capital Available for Attractive Buying Opportunities

Following the recent disposal of the Hitchin asset, AEW UK REIT now has approximately £6.8 million of capital available for reinvestment. According to Elkin, the current market offers compelling opportunities for value investors.

“Average commercial property values are at their lowest point since our IPO. That presents a lot of attractive buying opportunities, and we’re excited to take advantage of those to drive future value.”

This counter-cyclical positioning allows the REIT to deploy capital when pricing is most advantageous, reinforcing its long-term strategy.

High Income and Disciplined Capital Recycling

AEW UK REIT has also been able to reissue treasury shares at a premium to NAV, something few UK REITs have managed recently. Elkin believes this reflects strong investor confidence, driven by two key factors: income and capital discipline.

Firstly, the REIT has paid one of the highest dividends across UK diversified REITs for over a decade.

“We’ve delivered a consistently high level of income for ten and a half years. That consistency is being recognised in our share rating,” she said.

Secondly, the company actively recycles capital. Once an asset has reached the end of its business plan and its value has been maximised, AEW UK REIT looks to sell and reinvest.

“We crystallise profits and redeploy the capital into new opportunities. I think that gives the market greater confidence in our net asset value,” Elkin added.

Positioned for the Next Phase of Growth

With a proven strategy, strong income credentials, and capital ready to deploy into a value-rich market, AEW UK REIT appears well positioned to continue delivering for shareholders, even as the broader UK property sector remains under pressure.

As Elkin concluded, the combination of active asset management, disciplined capital recycling, and counter-cyclical investing remains central to AEW UK REIT’s ability to outperform over the long term.

Sulnox Group PLC (AQSE:SNOX) announced a trading update for Q3 2025, reporting year-to-date revenue of £1.7m – a 161% increase against the same period in the prior year (£650,000) and Q3 sales rose 135% to £492,000 (Q3 2024: £210,000).

Ben Richardson, CEO, said: “The growth in volumes and revenue that we have reported year to date is strong, but longer-term prospects for success on a far greater scale lie in the new and expanded agreements signed during the third quarter.” Read more

Falconedge PLC (AQSE:EDGE) announced that its ordinary shares are now live for trading on the OTCQB Venture Market in the United States. Read more

B HODL PLC(AQSE:HODL) has entered into a subscription agreement to implement an At-the-Market equity offering programme for 600,000 new ordinary shares at par value.

Freddie New, CEO, commented:“The At-the-Market facility gives us the ability to grow our Bitcoin treasury in a disciplined way, taking advantage of favourable conditions while maintaining transparency for shareholders. It’s a practical step that strengthens our long-term strategy.” Read more

Delta Gold Technologies PLC (AQSE:DGQ) announced that its ordinary shares are now live for trading on the OTCQB Venture Market in the United States. Read more

All Aquis Stock Exchange Announcements

Oil prices rose on Friday, recovering part of the losses from the previous session, but were still set to record their first weekly decline in almost two months as easing supply concerns and diplomatic developments weighed on sentiment.

Brent crude futures climbed 78 cents, or 1.2%, to $68.33 a barrel by 06:58 GMT, while U.S. West Texas Intermediate crude added 80 cents, or 1.3%, to $64.09 a barrel.

Even with the rebound, Brent was heading for a weekly loss of about 3.3% and was down roughly 4.8% from the highs reached in late January. WTI was also on track to fall around 1.8% for the week and remained about 3.4% below last month’s near six-month peak, which followed warnings from U.S. President Donald Trump of possible action against Iran.

Markets remained cautious amid uncertainty over the agenda for talks between the United States and Iran scheduled to take place in Oman later in the day. Tehran has signalled it wants discussions confined to nuclear issues, while Washington is pressing to broaden the talks to include Iran’s ballistic missile programme and its backing of armed groups across the region.

“The two sides remain well apart, leaving tensions elevated,” ANZ analyst Daniel Hynes said in a note. “This should see the geopolitical risk premium remain in place.”

Any renewed escalation could pose risks to global oil supplies, as roughly 20% of the world’s oil consumption moves through the Strait of Hormuz between Oman and Iran. Major exporters including Saudi Arabia, the United Arab Emirates, Kuwait and Iraq rely on the route, as does fellow OPEC member Iran.

However, analysts noted that a reduction in geopolitical risk could expose weaker market fundamentals. “We think that geopolitical fears will give way to weak fundamentals,” Capital Economics analysts said in a note, citing a rebound in Kazakhstan’s oil output that could help drive prices toward $50 a barrel by the end of 2026.

Gold and silver prices turned higher during Asian trading on Friday, attracting some bargain hunting after a volatile week marked by sharp swings and heavy losses.

Silver continued to lag and was still on course for a weekly drop of roughly 14%, having largely erased a recent rebound. Gold, while also heading for a weekly decline, held up relatively better but was still trading around $800 an ounce below the record highs reached last week.

Easing geopolitical concerns also weighed on demand for safe-haven assets, with signs of cooling tensions between Iran and the U.S. ahead of planned talks in Oman later in the day.

Gold set for modest weekly fall after rebounding from near one-month low

Spot gold slipped 0.9% to $4,825.31 an ounce by 22:56 ET (03:56 GMT), while April gold futures fell 1% to $4,842.44 an ounce.

On a weekly basis, spot gold was down about 0.9%, after struggling to sustain levels above $5,000 an ounce. Still, prices remained comfortably above a near one-month low touched earlier in the week.

“The selloff in the gold market was a little bit more contained due to greater liquidity and less aggressive positioning by investors,” ANZ analysts wrote in a note.

Silver heads for steep weekly loss as rebound loses momentum

Spot silver rose 2.8% to $72.9655 an ounce, while silver futures were down 5.1% at $72.760 an ounce.

Silver prices had plunged as much as 16% on Thursday before paring some of those losses by the close. Even so, the metal was down around 14% for the week, following an almost 18% collapse from record highs seen last week.

“We continue to reiterate that 70–90 region now represents a critical stabilisation zone; sustained failure to hold above this area may risk deeper correction towards USD 58/60 levels,” OCBC analysts said in a note. “But should prices hold up in this range, then bullish momentum may rebuild at some point later.”

Other precious metals remained under pressure as well. Spot platinum fell 1.8% to $1,953.17 an ounce and was down nearly 10% for the week, following a steep 22% drop last week.

The broader metals complex has been under sustained selling pressure since last week, initially triggered by U.S. President Donald Trump’s nomination of Kevin Warsh as the next Federal Reserve chair to succeed Jerome Powell.

Warsh is widely viewed as less dovish, a perception that has supported a rebound in the U.S. dollar and weighed on metal prices. The greenback was heading for its strongest weekly performance since early October, with weaker labor market data doing little to slow its advance.

Bitcoin staged a modest rebound during Asian trading on Friday after touching its weakest level in 16 months, but the move was not enough to offset heavy losses over the week, as a risk-off backdrop and uncertainty around U.S. monetary policy continued to pressure cryptocurrency markets.

The broader tone in crypto remained fragile after major corporate holder Strategy Inc (NASDAQ:MSTR) reported a dramatically wider fourth-quarter loss on Thursday, driven largely by the fall in the value of its Bitcoin holdings.

Bitcoin was last up around 5% at $66,145 by 01:48 ET (06:48 GMT), recovering from an intraday low near $60,187. Even with the bounce, the world’s largest cryptocurrency has now shed more than half of its value from the record high reached in October and has given up all gains made since Donald Trump’s election victory in late 2024.

Bitcoin faces third straight weekly decline

Despite Friday’s recovery, Bitcoin was on track for a third consecutive weekly loss and was down close to 16% over the period.

Recent weeks have seen a broad retreat from higher-risk assets, with pressure on crypto intensifying after Trump named Kevin Warsh as his preferred candidate to lead the Federal Reserve. Warsh has previously criticised the Fed’s asset-purchase programmes, prompting concerns that monetary policy could remain tighter for longer under his leadership.

Expectations of a smaller central bank balance sheet have weighed on speculative assets, and investors have responded by cutting exposure to risk-sensitive markets. The selloff in U.S. technology shares—often closely correlated with crypto price moves—has added to the downside pressure.

Strategy’s losses deepen as Bitcoin weakens

Strategy Inc (NASDAQ:MSTR) said its fourth-quarter loss widened to $12.4 billion, compared with a loss of $670.8 million a year earlier, highlighting the impact of Bitcoin’s prolonged weakness.

The company has struggled as Bitcoin failed to regain momentum following a sharp selloff in late October, which unsettled broader markets. As of February 1, Strategy held 713,502 Bitcoins at a total cost of $54.26 billion, or an average of $76,052 per coin.

With Bitcoin trading below that average purchase price, investors have grown increasingly concerned that the company could be forced to liquidate part of its holdings to meet debt obligations. Strategy, led by long-time Bitcoin advocate Michael Saylor, has funded its accumulation largely through debt issuance and share sales.

Altcoins mirror Bitcoin but weekly losses mount

Other cryptocurrencies followed Bitcoin higher on Friday but remained under pressure on a weekly basis.

Ether rose nearly 5% to around $1,917, yet was still down roughly 22% for the week. XRP and BNB posted daily gains of about 7% and 3%, respectively, but both were nursing weekly losses of around 20%.

Solana was heading for a weekly decline of roughly 24%, while Cardano was down about 13.5%. Among meme tokens, Dogecoin was off around 13% for the week, while $TRUMP had fallen by roughly 23%.

Delta Gold Technologies (AQSE:DGQ) (USOTC:DGQTF) has taken a major step in its growth strategy with its recent listing on the OTCQB Venture Market, significantly expanding its visibility and access to U.S. investors. The move comes as the London-based company accelerates its work in quantum computing and next-generation technology development.

Speaking on The Watchlist, CEO Michael Jones highlighted the strategic importance of entering the U.S. market. “The U.S. is enormously important for the quantum computing business,” Jones said. “Many of the world’s largest players are based there. If we’re going to build a truly global company, we have to be present in the U.S. market.”

Building at the Foundations of Quantum Computing

Delta Gold’s work sits at the most fundamental level of quantum technology: the creation of a stable, scalable qubit, the basic unit of quantum information. Unlike traditional computers, which use binary bits (0s and 1s), quantum computers rely on qubits, which can exist in multiple states at once.

“We’re right at the base physics of how you actually create a qubit,” Jones explained. “It’s very exciting work, and it’s happening at the level of fundamental science.”

Rather than rushing directly into product development, Delta Gold is focused first on building defensible intellectual property. The company expects this foundational work to translate into patents, licensing opportunities, and strategic partnerships over the next two to three years.

Collaboration with the University of Toronto

A key part of Delta Gold’s strategy is its research partnership with the University of Toronto, one of the world’s leading institutions in quantum science. The collaboration is structured through a three-year, C$3 million research sponsorship agreement.

Under the terms of the deal:

• Delta Gold funds C$1 million per year in research.
• The company receives 100% ownership of the resulting intellectual property worldwide, in perpetuity.
• The university receives a royalty on any future revenue or commercial sales derived from the research.

“We’ve already funded the first year and we’re well capitalized to complete the remaining two years,” said Jones. “In return, we get full global IP rights, which allows us to invest in research and capture long-term value.”

Path to Revenue

While the company is still early in the development cycle, Delta Gold sees multiple routes to monetization. Licensing its IP is a key goal in the medium term, alongside potential partnerships with industry players as its technology matures.

“We’re keeping the business model relatively open,” Jones said. “As we develop the fundamental science, that will convert into patent protection and then into potential licenses and strategic collaborations.”

A Global Vision

With operations rooted in London, research in Canada, and now a presence in U.S. capital markets, Delta Gold is positioning itself as a globally oriented quantum technology company.

“The OTCQB listing isn’t just about visibility,” Jones noted. “It’s about engaging U.S. investors, building partnerships, and putting Delta Gold where the quantum conversation is happening.”

As the race to develop practical quantum computing continues, Delta Gold Technologies is betting that strong academic partnerships and a disciplined IP strategy will place it in a powerful position for the next wave of technological breakthroughs.

London-listed aircraft leasing company Avation PLC (LSE:AVAP) has taken another step forward in executing its long-term fleet strategy, announcing a second aircraft placement with Cambodia Airways. The deal highlights both the strength of Avation’s customer relationships and the company’s disciplined approach to growth.

Speaking with HotCopper’s Watch List, Avation’s Investor Relations Director Tim Bacchus explained why repeat customers are so valuable in the aircraft leasing business.

Why Repeat Customers Matter

According to Bacchus, working with the same airline across multiple transactions significantly reduces both costs and operational risk.

“When you have a repeat customer as an aircraft lessor, you get a number of benefits. One of the key things is you essentially lower the cost of the scale of a transaction.”

Using the same legal documents, lease templates, and manufacturer specifications across multiple aircraft placements improves efficiency. In this case, Avation is working with ATR as the aircraft manufacturer, allowing both Avation and the airline to standardise aircraft configurations and streamline negotiations.

There’s also a long-term advantage: lower transition costs. When a lease expires, it’s far cheaper to keep an aircraft with the same airline than to move it to a new operator. That reduces downtime, re-marketing costs, and technical repositioning expenses.

While repeat business does increase exposure to individual customers, Avation is balancing this by diversifying its airline base. The company now works with 16 airlines across 15 countries, including its first customer in South America, and continues to expand geographically.

Disciplined Fleet Growth

The Cambodia Airways aircraft represents the fourth delivery from Avation’s ATR order book and the second placed with Cambodia Airways. Bacchus emphasised that this reflects “measured, disciplined growth” rather than aggressive expansion.

Avation currently has nine ATR aircraft on order, which will be added to the fleet by the end of its fiscal year in June 2028. This will grow the fleet from 33 aircraft today to 42 aircraft over the next few years.

Beyond that, Avation holds 24 purchase rights with ATR, giving the company flexibility to pursue further growth post-2028 as market conditions and capital availability allow.

Long-Term Value for Shareholders

The strategic importance of these placements goes beyond simple fleet expansion. New ATR aircraft are typically leased on 12-year contracts, which materially improves the company’s average remaining lease term.

At present, Avation’s average remaining lease term sits at just over four years, below many listed peers. As the new aircraft enter service, that average will increase significantly, locking in longer-dated, contracted cash flows.

“The longer lease remaining term is a good thing for shareholders,” Bacchus said, as it provides clearer visibility on future revenue and strengthens the company’s net asset value (NAV) growth story.

A Clear Path Forward

Taken together, the repeat placement with Cambodia Airways, the steady rollout of ATR aircraft, and the extension of long-term leases underline Avation’s strategy:

• Build scale carefully
• Strengthen customer relationships
• Improve cash-flow visibility
• Grow NAV in a disciplined way

For investors, the message is clear. Avation is building a well-defined, long-term value story based on stable earnings, diversified customers, and a carefully managed fleet expansion.